Hillsborough County Public Schools Business
Information Item

DATE: Tuesday, October 16, 2007
TO: School Board Members
FROM: MaryEllen Elia, Superintendent

SUBJECT / RECOMMENDATIONS

Monthly Financial Position Reports as of September 30, 2007 (Business Division)

EXECUTIVE SUMMARY

The fiscal year 2007/2008 budgets were adopted on September 6, 2007. The attached reports show revenues earned and funds expended through the period ended September 30, 2007. The projected ending fund balances are the difference between anticipated revenues and expenditures.

ANNUAL DISTRICT GOAL(S) AND CRITICAL SUCCESS FACTOR(S)

Other: Summary reports to ensure that all school district obligations and expenditures are within the appropriation allowed in the school district budget in accordance with Office of Program Policy and Government Accountability Best Financial Practices.

FINANCIAL IMPACT (Budgeted: Yes)

Fund balances for June 30, 2008, are subject to change based on additional revenue or expenditures not included in the current budgets.

EVALUATION

The monthly financial positions are consolidated and reflected in the year-end financial statements which are audited annually by independent external auditors as prescribed by law. The Board will receive the audit reports when they are completed. The time of completion will vary based upon the activities of the auditors.

SUBMITTED BY: Susan Hinson, Senior Fiscal Analyst, Budget Department

Susan Garcia
Manager of Services and Support, Budget
(813) 272-4064
Gretchen Saunders
Chief Business Officer
(813) 272-4270
A 9.01
Hillsborough County Public Schools (Florida) * Mtg.#20071016_268 * Section A Item# 9.01